The government wants to be more pro-business and make conducting business in Malaysia much simpler overall in order to guarantee the nation’s economic success.
According to Transport Minister Anthony Loke Siew Fook, the private sector is the engine of economic growth, and without it, the economy would not flourish.
“The private sector is not our enemy, and the government is not the enemy of the private sector. Hence, we must work together,” he said during his opening speech of the dialogue session held by the Malaysian International Chamber of Commerce and Industry (MICCI) with the Transport Ministry at Menara Star, Petaling Jaya.
Although Loke acknowledged that the government is concentrating on attracting foreign direct investment, he asserted that domestic direct investment is just as crucial for promoting economic expansion.
“We not only want to provide a place for foreign companies to come in, but we also want Malaysian companies to be competitive and innovative by looking into opportunities to tap into the market,” he said.
He claimed that because most government personnel are not active in the business world, they will only examine procedures from the perspective of rules, and that regulations and policies need to be updated and changed.
Loke emphasized the need to receive information from industry stakeholders, as this allows the government to see things from a much broader perspective and recognize real difficulties.
He added that many people are unaware of technical factors, particularly in the shipping, port, and maritime sectors; thus, it is critical to listen to industry players and understand their opinions on such issues.
“Once the real practical problem is understood, only then can we try changing it from a policy point of view. Not only will it help a particular company, but the entire industry as well,” he added.